In Nifty there is reversal to downside as per chart pattern. F | Stock Shiksha

In Nifty there is reversal to downside as per chart pattern. For nifty to go up it has to closes above 17800 which is now major resistance. On lower side, 17240 likely to act as support. Vix is trading in the range of 19-20 for which is sign of sharp movement in both sides and hence stop loss is must for any, short or long trade. FIIs are continuously selling which is concern for bull trend. In short, we are at juncture from where market will move in any side with sharp move. So trading with caution is the first advice. Sell on rise should be today's strategy in my opinion.